Package allows deferment of key payments to keep trade flowing
The Dubai Airport Freezone Authority (DAFZA) has launched a set of economic incentive packages, which aim to support companies based in the free zone.
The initiative will ensure business continuity across various sectors and will help them mitigate the severity of the economic impact and precautionary measures the world is facing during this time.
The initiative aims to enhance companies’ ability to adapt to the global fluctuations by providing them the flexibility to deal with the impact of the current economic situation and includes postponing lease payments for up to three months and facilitating the financial payments into easier monthly instalments.
It supports retailers operating within the free zone by exempting them from lease payments for a period up to three months.
The free zone will refund the security deposits on the leased spaces and labour guarantees to companies and will also exempt new companies from the registration and licensing fees. DAFZA will cancel companies’ fines as well.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said: “By launching this package we aim to reduce the impact of this crisis on businesses. We stand in solidarity with our companies to overcome the challenges caused by the global spread of Covid-19.
“This initiative reflects our commitment to providing the ideal environment for them to ensure their business continuity and to help develop and grow their operations despite the fluctuations and global economic conditions.
“This package will support companies through these exceptional circumstances that have unexpectedly affected various businesses sectors and activities.
“DAFZA is a key partner for many companies operating in more than 20 vital sectors within the free zone.
“This package will guarantee continuity and commercial movement within the free zone. We reassure companies during this difficult times that their companies’ investments and businesses are in a safe place and that we will overcome this crisis stronger,” he added.
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